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Nifty Outlook and Trade Setup for October Expiry

Short
NSE:NIFTY   Nifty 50 Index
On 8th October it was published that Nifty may give a relief rally upto 10750 (Refer to the link below). The Index opened gap up on wednesday 17th Oct and made an high of 10710, just short of 40 points of our pullback target of 10750. Bears tookover the dalal street again after 6 trading sessions to give a closing at 10453 i.e. -257 points from highs.

The Pullback looks complete and now again the support of 10200 should get tested. However Index will have to fill the important bullish gap (10322 to 10251) which was made on 12th October opening. A close below the demand zone will confirm the levels of 10000/9950.

Trade Setup
Short Nifty at Cmp of 10453

Target / Important Support Levels (Trail your SL at every target level)
10320
10290
10250
10200
10140
10050
9950


Stop Loss
10565
Trade active: Gap Filled at 10250 👍

First 3 Targets Done